Their Service Entitles Them To Low-Cost Loans. But Veterans Often Pay More

Their Service Entitles Them To Low-Cost Loans. But Veterans Often Pay More

John and Mary Jane Forr stay outside their property in Punta Gorda, Fla. Forr, a retired aquatic Corps colonel, discovered he could save yourself $2,500 per year by looking around for the mortgage that is lower-rate.

Eve Edelheit for NPR

In the beginning of the 12 months, John Forr saw interest levels dropping and figured it absolutely was a good time for you to refinance the home loan on their household in Punta Gorda, Fla. Forr is a retired aquatic Corps colonel. He served for 27 years.

He desired to get a VA loan — backed by the U.S. Department of Veterans Affairs — he was supposed to be able to get a better deal on the interest rate and other terms because he knew.